Financing and Credit

It's virtually impossible to change your score in the time between when most people decide to buy a home or refinance their mortgage and when they apply. So the short answer is, you really can't do a quick fix to boost your credit score. However there are strategies you can live with to make sure when you apply for a loan your score is as high as possible at that time. Make sure that the information each of the three credit reporting bureaus has on you is consistent and up to date. Get a copy of your credit report about once a year, and dispute any inaccuracies.
• www.equifax.com
• www.experian.com
• www.transunion.com

No Out-Of-Pocket Cash
The most successful real estate investors are the ones who have conquered the art of creative financing. They seldom if ever use their own out-of-pocket cash. One of the best methods of creative financing is finding private lenders. This is funding that comes from a private source such as friends or family members. It could be a business acquaintance, or a professional such as your physician, accountant, or attorney.
If you are in a position where you have no capital and perhaps a less-than-stellar credit rating, it may be difficult for you to believe that people are out there ready to hand money over to you, but it’s true. They are out there and they would very much like to hear from you.

On most investment purchases, such as HUD, VA, and some bank foreclosures, it is still necessary for investors to put down a minimum of 20%. This tends to keep a lot of people who would like to own real estate investments from being able to buy.

However, Fannie Mae, in an effort to clear off their high inventory of foreclosed homes, is now permitting investors to purchase many of their homes with only 10% down. This Fannie Mae program, called HomePath Mortgage Financing, incredibly has no PMI, nor appraisal fee either!

However, they do require 720 credit scores and a debt-to-income ratio of 45% or less. So if you want to take advantage of this great program, begin paying down your debts in order to qualify.

Has anyone had any dealings with Real Estate Investment Solutions?

My name is Jonathan, I live in Las Vegas now, since the Papermill that I worked at back in Wisconsin decided to close its doors on me. For the last year and a half I have been living on unemployment, but just like many other Americans, it is nearing its end. My mother and I have devoted the past three months to anything and everything that we can find out about real estate investing. We are currently taking online courses, reading book after book, and have even scraped up enough money (that we didn't realistically have) to attend one of Dean's Live 3-Day Seminars. The fact of the matter is that we can't afford anymore money to learn so-called secrets from anymore gurus.

Hello members,

I have a great property in williamsburg,va I would like to fix & flip.

4 bedroom
2 bath
3000 square ft.
1.0 acre lot
detached 2 car garage.
guest house.

purchase $129,900
repairs $100,000
arv $500,000

Anyone know of a lender that can finance this property?

Thanks,
Eric

After several years of thought and prayer, this is the answer I am faced with.

So my question is where to start after it is all said and done. Now I have enough since to know it is NOT going to be a cake walk...but, it is not now. I just want to do what my next steps should be....?

This is not an easy decision for our family but, we have got to do something to pull our head out from under this sinking ship.

Do you have an owner occupant buyer that is interested in buying a fixer-upper, but they have the cash to remodel it? Or maybe you have an owner/occupant buyer that has saved money for remodeling and you've found a house that they love, but the lender won't allow them to buy it because the house isn't considered habitable without toilets.

There are always properties on the market that weren't maintained by cash-strapped former owners, were treated poorly by renters or were deliberately trashed by formers owners before they lost their home to foreclosure. Shouldn't there be a way for someone like these buyers to fix up these neighborhood eyesores and bring them back to life?

A Gift From the Government

Reverse Mortgage Home Loan For Senior Citizens–Is Refinancing A Better Option?

Some senior citizens who are looking for money later in life often use a reverse mortgage loan in order to get the funds that they may need for various expenses. However, there are many people who believe that a reverse mortgage loan it is a horrible decision for senior citizen homeowners as this type of loan can cause trouble for some.

No wonder the economy is in a FUNK!

A Credit Crunch That Lingers

Forget the improving economy. Entrepreneurs still find it hard to get loans. Here's why we're in this mess—and how we may get out of it.

The economy is on the mend. The government has launched a boatload of programs to get small businesses financing. President Barack Obama has urged banks to give the companies a "third and fourth look" before rejecting them for loans.

Yet entrepreneurs are still struggling to land credit. Only half of small businesses that tried to borrow last year got all or most of what they needed, according to a survey by the National Federation of Independent Business. In the mid-2000s, 90% of businesses said they got the loans they needed.